GOLD XAUUSD ANALYSIS NEXT WEEK July 8-12.
Here is the market outlook on Gold (XAUUSD) for next week from 8th to 12 of July. It is a clear projection of what is mostly likely to happen on Gold next week.
ANALYSIS.
In monthly timeframe the July candlestick has opened with a stronger bullish momentum following the support of the news this week. But since it is just the beginning of the month, therefore sentiment may change in the future.
In weekly timeframe the idea of three wave swing to the upside remains the same, and currently the correction has completed therefore price is expected to create another three wave swing to the upside.
In daily timeframe the triangle ideas introduced last weekend has remained true followed by a clear five wave move to the upside. The the fifth wave is expected to end within the horizontal resistance presented above the current price level.
In four hour timeframe there is a clear five wave move to the upside as explained in daily timeframe. Price is moving with a horizontal resistance level. There is signs of beginning of fading out of the buying momentum in this timeframe.
PRIMARY PROJRCTION.
Watch for buy opportunities after correction of the current five wave move to the upside. But short term sells can be taken when price show signs of correction around the 2400 level.
SECONDARY PROJEXTION.
Watch or sell opportunities when price rise to the level of around 2430.
ANALYSIS.
In monthly timeframe the July candlestick has opened with a stronger bullish momentum following the support of the news this week. But since it is just the beginning of the month, therefore sentiment may change in the future.
In weekly timeframe the idea of three wave swing to the upside remains the same, and currently the correction has completed therefore price is expected to create another three wave swing to the upside.
In daily timeframe the triangle ideas introduced last weekend has remained true followed by a clear five wave move to the upside. The the fifth wave is expected to end within the horizontal resistance presented above the current price level.
In four hour timeframe there is a clear five wave move to the upside as explained in daily timeframe. Price is moving with a horizontal resistance level. There is signs of beginning of fading out of the buying momentum in this timeframe.
PRIMARY PROJRCTION.
Watch for buy opportunities after correction of the current five wave move to the upside. But short term sells can be taken when price show signs of correction around the 2400 level.
SECONDARY PROJEXTION.
Watch or sell opportunities when price rise to the level of around 2430.
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